If you were to buy a house locally at the current median price of $1,208,250 and had 10% deposit, then you would need a mortgage for $1,087,425. This is a very large mortgage compared to state.
VIC has seen an average of 4149.07% rowth over the last 5 years. This means that with well above the state figure, HIGHETT, 3190 figure of 861 represents a 10163.00% change.
Mortgage brokers in HIGHETT, 3190 have seen that the median mortgage loan repayment has increased substantially between the last two census periods, changing from $1,517 to $2,167.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in HIGHETT, 3190 should have seen some difference. While the latest census median annual household figure income is now $72,072, it was $55,125 back in 2006, which is a net increase of $16,946 Subtract from that the median mortgage repayment increase of $7,800 and a mortgage broker’s clients could be up to $9,146 better off each year even without factoring in mortgage rate cuts.